Investors lose N119bn to profit-taking in blue-chip stocks

Bears maintain grip on equities as investors again lose N280bn

Sell-offs in telecommunication giant, MTN Nigeria (-1.7 per cent), BUA Cement (-1.8 per cent) and Zenith Bank (-2.7 per cent) dragged the All-Share Index by 91bps to close at 24,954.25 points. As a result, market capitalisation fell N119.2bn to settle at N13.0tn, while year to date loss worsened to -7.0 per cent. Activity level waned as volume and value traded declined 29.5 per cent and 52.7 per cent respectively to 237.6m units and N1.6bn. The most active stocks by volume were FBNH (24.4m units), Zenith (24.1m units) and FCMB (19.5m…

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